Colleges in Dire Financial Straits

[mamselle]

+1

Also, this thread

   http://thefora.org/index.php?topic=2640.0;topicseen

might do well with some suggestions from frequent posters to the present thread!

There seem to be some overlapping questions...

M.

[Wahoo Redux]

For the last 8 years I have taught whatever falls to the floor, which has been a wide variety, and I have taught well and with good humor.

But what a blow to one's sense of purpose and self-esteem.

Please remember and be proud that you have made a positive difference in many students' lives over the years.

Wishing you the best, Wahoo Redux.

Thank you.  You are very kind.

[Wahoo Redux]

But what a blow to one's sense of purpose and self-esteem.

Your worth is not limited by this job.  As you indicated, not working here (at least in the short term... they may need you again faster than they realize!), especially as you dont love teaching there, frees up a lot of time to do the things that will make you happier!  This (temporary job reallocation) should not be a challenge to your sense of purpose or self esteem! 
I see a new purpose on the horizon!  Do the things that DO make you happy!  If that is the research you have put off, then you will have the time!  Hell, even if it is gardening and closet organizing, that at least has the benefit of showing the immediate gratification of viewing your accomplishments!

Actually my amazing, wonderful wife has implored me---actually implored---to take some time and work on some of the writing projects that have been languishing for the last 5 years or so as I juggled the 5/5.  I am one luck sum'gun in that respect (it pays to marry an academic who does not live for material things). 

Or I may decide to become a Heavy Metal star.

Alas, they are denuding the university, even some things that I think are overtly beneficial to the culture (gerontology, several education programs, music, computer science, and several social service programs just to name a few) because of the student-to-faculty and cost ratios.  I don't even think we should call ourselves a "university" with so many cuts.  All hail the ascendancy of business.

Thanks for all the support, folks, I did not mean to hijack the thread.  Y'all are cool!!!

[FishProf]

That's not an OR choice.  Do Both!

[Hibush]

Isn't this the same problem facing by so many LAC these days, particularly those located in regions with a combination of demographic and socio-economic changes, as the number of upper-middle class students who are willing and able their $50K+ comprehensive fees have declined, while the type of students enrolled in these schools tend to come first generation and minorities, which tend to come from lower-income families?

Many of these LAC are to be commended for their commitment to take students from these background and give them first-class liberal arts education. However, the trade-off is that as the number of well-off students who are able to pay the full tuition cost to subsidize the low-income ones declined,  these LAC began to incur deficits and within the few years found themselves to be under water.

Of course, some like Albion College (profiled here: https://tinyurl.com/335mjhf2) have sizable endowment that helped them to cushion the blow from the financial losses, at least for now. However, others, like Bloomfield, have an endowment of next to nothing, with a location either in urban ghettos or rural neverland that becomes a turn-off for many prospective students, hence they're caught themselves in a financial quicksand/death spiral that in the end they simply couldn't get themselves out of.

Exaclty. The problem of having gone under water with no sign of flotation is far more widespread than Bloomfield. It is frightening that they cannot regognize the problem when the financial acumen required to recognize it is no more complicated than high-school household budgeting class. The probelm is not universal, however. It appears to be 10 to 20% of LACs. More for beauty colleges and fine-arts institutes.

My rudimentary understanding of economics leads me to conclude that the demise of the weakest 20% of LACs will improve the finances of the remaining 80% and the industry will be stronger after shedding that capacity. While there will be fewer faculty overall, these schools tend grossly underpay.

The losers are the students who would have gotten an education financed by the depletion of a dying school's endowment. I don't think that was a good model to being with, and that public schools are in a much better position to provide that education, financed explicitly and intentionallly with public funds.

[lightning]

Isn't this the same problem facing by so many LAC these days, particularly those located in regions with a combination of demographic and socio-economic changes, as the number of upper-middle class students who are willing and able their $50K+ comprehensive fees have declined, while the type of students enrolled in these schools tend to come first generation and minorities, which tend to come from lower-income families?

Many of these LAC are to be commended for their commitment to take students from these background and give them first-class liberal arts education. However, the trade-off is that as the number of well-off students who are able to pay the full tuition cost to subsidize the low-income ones declined,  these LAC began to incur deficits and within the few years found themselves to be under water.

Of course, some like Albion College (profiled here: https://tinyurl.com/335mjhf2) have sizable endowment that helped them to cushion the blow from the financial losses, at least for now. However, others, like Bloomfield, have an endowment of next to nothing, with a location either in urban ghettos or rural neverland that becomes a turn-off for many prospective students, hence they're caught themselves in a financial quicksand/death spiral that in the end they simply couldn't get themselves out of.

Exaclty. The problem of having gone under water with no sign of flotation is far more widespread than Bloomfield. It is frightening that they cannot regognize the problem when the financial acumen required to recognize it is no more complicated than high-school household budgeting class. The probelm is not universal, however. It appears to be 10 to 20% of LACs. More for beauty colleges and fine-arts institutes.

My rudimentary understanding of economics leads me to conclude that the demise of the weakest 20% of LACs will improve the finances of the remaining 80% and the industry will be stronger after shedding that capacity. While there will be fewer faculty overall, these schools tend grossly underpay.

The losers are the students who would have gotten an education financed by the depletion of a dying school's endowment. I don't think that was a good model to being with, and that public schools are in a much better position to provide that education, financed explicitly and intentionallly with public funds.

I saw this happen in my area, where there used to be three very similar sLACs. All of them were one hour from each other by car (no more than 90 minutes, in the worst traffic). Two of them closed down, eventually. The remaining sLAC is thriving. That's the strategic plan for struggling sLACs--outlast your direct regional competitors and you will thrive. I'm guessing that is what drives the plans to spend, invest, and pretend everything is just fine (to the the outside world). Up the ante on the arms race, and hope the competition will implode before you do, as they try to keep up with your debt-financed lavishness.

[FishProf]

Hmmm.  We seem to be following the "absorb the most expensive programs from local closures, fail to fund them, let that harm existing programs, and then decide that what we need is MORE OF THAT!"

And we didn't even need a consultant to waste 1/2 million dollars this time.

Progress?

[Wahoo Redux]

I'm seeing this processes from the inside.

I think I see the death spiral: fewer classes offered, fewer majors offered, bigger classes, more disgruntled students; and administration talking "survival" and deaf to any arguments from faculty.

One sees the catch-22: we have to limit the university to balance the budget; limiting the budget makes us less desirable. 

[Hibush]

I'm seeing this processes from the inside.

I think I see the death spiral: fewer classes offered, fewer majors offered, bigger classes, more disgruntled students; and administration talking "survival" and deaf to any arguments from faculty.

One sees the catch-22: we have to limit the university to balance the budget; limiting the budget makes us less desirable.

This and some of your other comments indicate that it's high time to entertain offers from other places, and that there is a good likelihood of more professional fulfillment after a move.

[Wahoo Redux]

I'm seeing this processes from the inside.

I think I see the death spiral: fewer classes offered, fewer majors offered, bigger classes, more disgruntled students; and administration talking "survival" and deaf to any arguments from faculty.

One sees the catch-22: we have to limit the university to balance the budget; limiting the budget makes us less desirable.

This and some of your other comments indicate that it's high time to entertain offers from other places, and that there is a good likelihood of more professional fulfillment after a move.

From your lips (or keyboard) to God's ears, my friend.

And athletics are getting more money, some of the admin are scheduled for a 10% raise, and apparently a new administrative position has just been authorized despite the downsizing.

[Cheerful]

And athletics are getting more money, some of the admin are scheduled for a 10% raise, and apparently a new administrative position has just been authorized despite the downsizing.

Any new buildings or major renovations, like a new student fitness center?  Of course, "new buildings and 'capital 'improvements' exist in a whole different budget and we can't transfer those funds!" (Campus Admin Everywhere, 2021, p. 1).

[Wahoo Redux]

And athletics are getting more money, some of the admin are scheduled for a 10% raise, and apparently a new administrative position has just been authorized despite the downsizing.

Any new buildings or major renovations, like a new student fitness center?  Of course, "new buildings and 'capital 'improvements' exist in a whole different budget and we can't transfer those funds!" (Campus Admin Everywhere, 2021, p. 1).

There is a rumor that one decrepit parking garage is being torn down to make way for some sort of student collaborative center.  I guess with fewer students we would need fewer parking spaces. 

We are losing the emergency medicine and the medical lab technology programs.  A lot of people are shot in certain sections of our town...even fewer parking spaces will be needed in the future...

[lightning]

And athletics are getting more money, some of the admin are scheduled for a 10% raise, and apparently a new administrative position has just been authorized despite the downsizing.

Any new buildings or major renovations, like a new student fitness center?  Of course, "new buildings and 'capital 'improvements' exist in a whole different budget and we can't transfer those funds!" (Campus Admin Everywhere, 2021, p. 1).

There is a rumor that one decrepit parking garage is being torn down to make way for some sort of student collaborative center.  I guess with fewer students we would need fewer parking spaces. 

We are losing the emergency medicine and the medical lab technology programs.  A lot of people are shot in certain sections of our town...even fewer parking spaces will be needed in the future...

I don't know whether to laugh or cry, when you mention a "student collaborative center." Your admins must be really clueless, if they think student collaboration actually happens because of a "student collaborative center."

[Hibush]

I don't know whether to laugh or cry, when you mention a "student collaborative center." Your admins must be really clueless, if they think student collaboration actually happens because of a "student collaborative center."

Aka a fraternity house where the rent goes to the operating budget?

[Wahoo Redux]

I don't know whether to laugh or cry, when you mention a "student collaborative center." Your admins must be really clueless, if they think student collaboration actually happens because of a "student collaborative center."

Aka a fraternity house where the rent goes to the operating budget?

Our admincritters suddenly became inscrutable. We do have a consulting firm...and we were talking amongst ourselves about an FOI request to see, among other things, how much they are being paid and what they have said...but we are probably too cowed to actually do anything.  I imagine any critter would like to leave a building as a legacy.

This may have been posted somewhere on the Fora already, but someone on Reddit just provided this government database of closed colleges.  Wonder how long until ours makes the list.

https://www2.ed.gov/offices/OSFAP/PEPS/closedschools.html